You are correct, the units in Tempe fairly close to ASU tend to see high occupancy rates. Many I have been around will rent in the spring for the fall class schedule. It is student housing so the probability of a slightly harder life is possible and you should plan for carpet and paint every few years.
Tempe is a great spot, what is the investment range you are considering?
Would your investment be cash or are you financing? I ask the question because some of the distressed properties are cash only sales due to condition of the property.
We will find both ends on condition, some will be be rehabbed with new carpet and paint while others may need carpet, paint, appliances etc. What would be your preference?
Arizona Homes for Sale by a Guy from Iowa